PickensPlan

Banking Crisis - Pickens Plan is part of the Answer

This country needs to have a focus to pull us out of our financial crisis. We need to put a moratorium on all new home construction because there are too many houses and that is why home prices are dropping and banks assets are loosing value. That is the root cause of the banking mess. At the same time every construction worker in our country should be employed by a government program to become completely energy independent.
We need to take the $700 billion that the fed wants to bail out banks with and instead use that money to get focused on the Pickens Plan NOW!

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Permalink Reply by dave murray on September 27, 2008 at 5:11am
the root of the problem is our liberal higher education. this sounds like something china would do. employed by the government so the elitist can thrive. read the constitution
Permalink Reply by Warner on September 27, 2008 at 7:45am
Actually--it is not a bailout as such. The proposal by Mr Paulson and Mr Bernancke to
infuse more funds into the system will restore liquidity to the markets which are now at
an impasse.

Once the government "owns" some of these loans they can lower the interest rates or even
zero it out so folks can keep their homes rather than face foreclosure. Home prices will rise
and the crisis will be over.

You are correct that we should be going forward at all due speed with the PickensPlan.

Once the money is back in the system it should be easy to get the financing necessary for the
PickensPlan too.

I have stated here that we need the FairTax plan as well. The FairTax is a national sales tax
which will completely repeal and replace the income tax. It will provide the government with
the funds necessary to run it while also saving us taxpayers $100s of billions per year which is
the cost of the income tax. Remember, the income tax has a price. A huge price on you and me.
The FairTax will cost us 1/4 of one percent to administer.

The savings we will see with the FairTax will help us cover our energy bills while we invest in the
Pickensplan and get us to a clean, domestic source of energy. We all want the same thing.
We can all pull together on this.

See www.fairtax.org.

Thanks
Permalink Reply by Charles A. Laster a.k.a. Little Feather on September 27, 2008 at 3:30pm
If you want to infuse more funds into the system and increase liquidity, there is a lot better way than giving Wall St. 700 billion.

Give it to the American Taxpayers.

Hell, just 20% of that amount if divided and given to American taxpayers would solve the problem.

It would be enough for almost every American to pay off their debt, and have some to spare.

By paying off their debt, it would save Wall St at the root of the problem, bad debt.

Taxpayers like me who are not swamped in debt, could then afford to buy a home, reducing the housing glut.

It would provide a real economic stimulus, unlike the paltry check Bush gave Americans.

But our government does not give a dam about the American taxpayer, its big business they want to help. We are just here to keep the gears and profits of big business rolling.
Permalink Reply by Warner on September 27, 2008 at 5:38pm
With the FairTax the effect would be the same as what you propose.

The taxpayers would save many hundreds of billions per year to help with
their bills, their debts, and many make some good investments in the PickensPlan.

Check out www.fairtax.org.

The PickensPlan is a good idea and we really need to get away from foreign
oil and to a clean and domestic natural gas/wind power economy. The problem
now is how to finance it when money is so tight. I think the FairTax is the answer.

Thanks
Permalink Reply by Cadeaux on October 2, 2008 at 9:30am
If the Government owned the printing plates for the money, they could print the stuff and loan it interest free to all American citizens who needed the money to prevent bankruptcy. Citizens could repay by having the bank deduct 10% of all checks deposited until the money is repaid. That sounds like a 10% tax that gets collected by the bank clerk - pretty efficient tax collecting system.
Permalink Reply by Kenneth Guntkowski on September 28, 2008 at 8:47pm
Permalink Reply by Warner on September 29, 2008 at 9:09pm
That was very informative Kenneth....

Scary too.

Thanks
Permalink Reply by Cadeaux on October 2, 2008 at 9:19am
Why can't the Government loan interest free money to communities creating alternative energy projects? The Government would not be going into debt and the beneficiaries would be selling energy to Americans so they would have revenue to pay off their debt. Chris tidman has some interesting ideas on his blog.
Permalink Reply by Warner on October 2, 2008 at 7:35pm
Usually it is not a good idea to have the government decide these things. We are now seeing what it is
like to deal with the Congress.

That is why we need the FairTax to free up $100s of billions now wasted on the income tax.

The FairTax is a national sales tax that will repeal and replace the income tax.

See more at www.fairtax.org.

We need the PickensPlan and we need the FairTax now to help us pay for it.

Thanks

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